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Et news 11


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Et news 11

  1. 1. ET News related to HR (22 Nov’10 to 26 Nov’1o) Neha Sahi MBA 2C
  2. 2. SBI employees withdraw proposed two-day strike •SBI employees unions have called off two-day nationwide strike after assurance on increase in wage and pension from the government. •Employees have also been assured of an amicable solution of their other demands like oPayment of additional pay and allowance oImprovements in superannuation oFamily pension on par oPenalty for error in opening of accounts oRestoration of erstwhile modular structure involving posting of DGM at Administrative Units.
  3. 3. Contd.. •Government has agreed to provide half of the basic pay as pension based on pay in 2007 instead of 2002. •Government has assured to revise the wages by 17.50%, for which a provision of Rs. 289 crore has already been made. •Hike would benefit 1.7 lakh employees. •Under the new pension scheme the maximum cap would likely to be on basic salary of Rs. 31,500 instead of Rs. 21,040 .
  4. 4. Kingfisher pilots boarding Jet on growing demand •Jet hired about 50 benched pilots from Kingfisher Airlines as co-pilots. •First batch of 20 pilots has already joined and the rest will join shortly. •Jet also looks to hire some experienced pilots as commanders from its competitor. •Poaching is not possible in aviation industry as a no- objection-certificate is required from the airline whose employees are being hired by a rival.
  5. 5. Contd.. •The move is necessitated as Jet is thinking of putting a bigger aircraft type, A330, as opposed to a smaller Boeing 737 for some of its slots on Mumbai-Delhi route. •Jet hired pilots from Kingfisher which flies Airbus A320 on domestic routes, to fly its A330, as it requires just a week’s training for the transition as Airbus operates on multi-fleet-flying basis as opposed to Boeing’s training that requires endorsement for each aircraft type.
  6. 6. IDFC mutual fund gets new deputy CEO •Infrastructure Development Finance Company Limited Mutual Fund announced the appointment of Kalpen Parekh as the new deputy CEO. •Prior to joining IDFC, Parekh was working with Birla Sun Asset Management Company. •He has also served in ICICI Prudential AMC.
  7. 7. Taurus makes senior-level appointments •Taurus Mutual Fund announced that oJude Abraham have joined as national head of institutional sales. oDeepali Dholepatil as head of HR and administration. •Abraham has 10 year experience in mutual fund industry and joins from L&T. •Dholepatil also has over 10 year experience and joins from Dun & Bradstreet.
  8. 8. IOC, ONGC to appoint pros on board •IOC and ONGC will appoint lawyers, chartered accounts, IIT professors and prominent IT professionals as independent directors, in the move that will boost corporate governance after acquiring “Maharatna” status. • names are yet to be approved by the Appointments Committee of Cabinet(ACC). •ACC may approve the appointments by next month.
  9. 9. Contd.. •The government has empowered boards of ONGC nad IOC to invest up to Rs. 5,000 crore in a project without its approval, from previous Rs. 1,000 crore. •Full strength of IOC and ONGC boards is essential as both companies are schedule to hit the market with their respective follow-on public offers. •As against requirement of 10, the board of IOC has 6 independent directors.
  10. 10. Thank You